(Reuters) – E-commerce tech startup Rokt said on Thursday it has agreed to a secondary share offering worth $335 million with investors including Tiger Global Management, in a deal that values the company at $3.5 billion.
Rokt, which uses artificial intelligence and machine learning to analyze online shoppers and their engagement with products and services, was valued at $2.4 billion at the end of 2022.
Other investors included investment firm Square Peg, Australia’s Barrenjoey and SecondQuarter, with a few board members also purchasing shares, the New York-based company said.
“Rokt has delivered exceptional growth since launching 12 years ago, with our revenue trajectory continuing to accelerate – this year achieving 43% growth year over year, reaching $600 million,” said Bruce Buchanan, CEO and co-founder of Rokt.
Founded in Australia in 2012, Rokt has expanded to about 15 markets across North America, Europe and the Asia-Pacific region. Its customers include Uber, department store chain Macy’s, Live Nation and AMC Theatres.
Separately on Thursday, Rokt announced it would merge with customer data platform mParticle in a $300 million deal.
(Reporting by Deborah Sophia in Bengaluru; Editing by Vijay Kishore)
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